Birmingham Bound Inc
- Assets
- $1.0m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 1
- Location
- Birmingham, AL
- Founding
- Data as of
- 12/2023
- EIN
- 88-0545216
Organization Overview
Birmingham Bound Inc is located in Birmingham, AL. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Birmingham Bound Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Birmingham Bound Inc generated $1.0m in total revenue. All expenses for the organization totaled $302.7k during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD UP THE TECH ECOSYSTEM AND MAKE BIRMINGHAM THE PLACE TO GROW AND SCALE A TECH COMPANY
Describe the Organization's Program Activity:
Part 3 - Line 4a
BIRMINGHAM BOUND IS AN INITIATIVE TO BUILD UP THE TECH ECOSYSTEM IN OUR CITY AND MAKE BIRMINGHAM THE PLACE TO GROW AND SCALE A TECH COMPANY. WE WORK TO BRING MORE TECH COMPANIES TO BIRMINGHAM, AND WE HELP COMPANIES ALREADY HERE CONTINUE TO THRIVE BY CONNECTING THEM WITH KEY LEADERS AND INNOVATORS IN OUR TECH-FORWARD, ENTREPRENEURIAL AND OBNOXIOUSLY SUPPORTIVE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mayor Randall Woodfin Director | Trustee | 1 | $0 |
Britney Summerville Board President | OfficerTrustee | 1 | $0 |
Chris Comeaux Director | Trustee | 1 | $0 |
Kellie Clark Director | Trustee | 1 | $0 |
Chris Moody Director | Trustee | 1 | $0 |
Cori Fain Board Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,043,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,043,500 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,043,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $140,000 |
| Compensation of current officers, directors, key employees. | $35,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,105 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,267 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $70,095 |
| Office expenses | $4,992 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,442 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,135 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $584 |
| All other expenses | $78 |
| Total functional expenses | $302,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,023,340 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $400 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,023,740 |
| Accounts payable and accrued expenses | $2,723 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,723 |
| Net assets without donor restrictions | $1,021,017 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,023,740 |